Friday, February 02, 2007

I haven't done much this week. Took a couple trades and made a little but no real improvement on anything this week. I failed to take an 8pt stop on YM and failed to see that it was a bad trade because ER2 was showing bearish divergence.I knew it was a bad trade after 3min, but I failed to exit or take the stop. My signal said short when I was long. Fortunately I took the next signal on ER2 at the LVA and made back my money and some extra when ER2 returned to the VA. I need to do more tick,time,mp, and volume analysis. I'm too tired and not sure when I will. I just spent the last few hours looking at stock charts looking for patterns. I still like my trading idea of watching highly correlated oil stocks for scalping opportunities. Here's another Trade ideas scanI need to start evaluating my losing trades intraday before re-entering a position, I believe this will save me money and prevent big draw down days.